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Dont sell your apartments

Sat, 01/10/2009 - 19:42 — rami

Dear investors in Emirates City

I just want to advice you not to sell your apartments right now. Prospective buyers are trying to distress you and to buy your flats at the cheapest prices. Everyone knows that prices will go up after the implementation of the escrow account in Ajman.

Some buyers are trying to take advantage of the current market conditions to take discounts from you and then they will sell it back at high premium when the market will pick up in the near future.

regards

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Sat, 01/10/2009 - 20:09 — paul66

I agree - dont sell if you can still afford the payments

I totally agree, you should not sell your apartment(s) especially if it is in the Emirates City unless you really have to.

Sooner or later your investment will be worth a lot more as prices can only go up. More and more people are coming to the UAE (800 people a day to be precise according to the officials), they all need a roof over their heads and with Property investment you cant go wrong in the long term.

Those who hoped to make a quick profit - I hope you got your fingers burnt as you deserve it. You cannot just listen to brokers/developers opinions that tell you you can double your money in a few months without paying for the whole property price. Treat your investment like its your home - think long term.

As soon as this crisis is over (as soon as these banks start lending to each other and people like us) it will be back to normal again, booming Dubai, Ajman, Abu Dhabi, Sharjah and RAK.

Remember what happened to the countries tourism during 9/11? Nobody wanted to be here, even Nakheel was having second thoughts on building 'THE WORLD' islands. But, after all the panic, things settle down, and the world started spinning again.

Sorry for the long comment.
Paul

Sat, 01/10/2009 - 20:52 — igor

agree

I perfectly agree with you Paul. Always investment i real estate is a safe and profitable investment in the long term and it is always better than keeping cash in the bank deposits.

Sat, 01/10/2009 - 22:29 — reyadalany

True coments from paul

True coments from paul but not in this country where realestate laws unclear , no infrastructure , unrealistic developers all of these factors make this investment unsecure , i know these factors well but i did majour mistake in buying properties in dubai and ajman as long term investment (not speculation) but see what we got ? no residance visa for the family( bec. i have problems in my country and this the main reason to buy here at least for me ) , delayed construction ,all laws protect developers who are supported by the government , my mistake is to buy an offplan apartment rather than ready one though higher price at least it is there not on papers ! we must think logically all investors made big mistake by buying dreams , god help us .

Dr. reyad

Sun, 01/11/2009 - 11:19 — pasargad

I agree with reyad

If you have business in this desert and $100,000 is nothing for you , yes i agree with paul
it's better to keeping apartment and wait for time it grows up
but
when i see unclear laws to protect investors and even fail old laws(like as residence visa , as i think
90% of buyers , bought apartments just because of visa and live in their homes)
and also laws to protect developers to do everything against buyers
i dont think there is a safe country for investment

i received contract 3 months later that i has been too much money
and when i saw this agreement , all content was just to protect developer not me!!

Sun, 01/11/2009 - 15:07 — riggerone

visa

Yes I think the worst thing to happen to properties in Ajman is the withdrawral of te residence visa for buyers.
I think this started the panic and the resale situation, To me this has affected so much,trust ,confidece etc.
I dont know what the government are thinking of,it seems they have shot themselves in the foot and spoilt it, somehow the whole Ajman thing is tainted now.

Sun, 01/11/2009 - 16:58 — dwarish

Visa Issue

Dubai goverment's advisery commitee recommended for the common fadaral rule for issue the residency VISA to property owner, its positive move from Dubai.

Looks that once this will approve all the emirates will bound with the same rule like -

1. Fee for the visa
2. Duration of Visa i.e. 1 year / 3 year
3. Other formalities like medical insurence etc.

Govt. also feeling the pintch of crunch and good / appreciated move hope for some concrete rule which can't be altered with the time.